Summary
PepsiCo, Inc. (PEP) has announced a significant change in its financial leadership through an 8-K filing. Hugh F. Johnston will be resigning as CFO, effective November 30, 2023, after serving the company for an unspecified period. This departure marks the end of an era for the company's financial operations under his tenure. In response to Mr. Johnston's resignation, PepsiCo has appointed James (“Jamie”) Caulfield as the new Executive Vice President and Chief Financial Officer, also effective November 30, 2023. Mr. Caulfield brings extensive experience to the role, having served as Senior Vice President, Chief Financial Officer of PepsiCo Foods North America since 2019 and accumulating over 30 years of financial leadership within various divisions of PepsiCo. Investors should monitor the transition and any future compensation details for Mr. Caulfield as they emerge.
Key Highlights
- 1Hugh F. Johnston is resigning as CFO of PepsiCo, Inc., effective November 30, 2023.
- 2James (“Jamie”) Caulfield has been appointed as the new Executive Vice President and Chief Financial Officer.
- 3Mr. Caulfield's appointment is effective November 30, 2023.
- 4Mr. Caulfield has over 30 years of experience within PepsiCo, holding various finance roles.
- 5Most recently, Mr. Caulfield served as Senior Vice President, Chief Financial Officer, PepsiCo Foods North America since September 2019.
- 6Mr. Caulfield previously held the position of Senior Vice President, Investor Relations from 2011 to 2019.
- 7No specific compensation arrangements for Mr. Caulfield in his new role have been disclosed at the time of this report.